Despite Top Rank CEO Bob Arum's announcement that HBO and Showtime have already reached an agreement on how the Pacquiao-Mayweather fight will be broadcast, a Showtime executive revealed that the announcement was still "premature."

According to ESPN, Showtime executive vice president Stephen Espinoza said that they are still working on some issues regarding the fight.

"While we are optimistic, it's a bit premature to say that the networks are in total agreement," he added.

On Thursday, Arum made the announcement that the two networks have agreed on a deal on how the fight broadcast will go.

"We had four issues and we resolved two. Now we're working on resolving the other two. Unless something else comes up at the last minute, that's what my take is," Arum was quoted by ESPN as saying.

The Top Rank CEO refused to name the remaining two issues because he did not want to "sabotage" the ongoing negotiations.

Arum also explained that there will be a 60-40 split between the two players in a match which is expected to earn about $200 million or more in revenues, ESPN added. There have been reports claiming that the terms including the purse money were mostly dictated by Mayeather's camp.

"There's a lot of devil in the details and that's what we're sorting through now. The remaining issues are obviously important to the participants, and are things we have to work out," Arum added.

Meanwhile, the undefeated American fighter's adviser Al Haymon refused to share details of the negotiation to the media while Mayweather continues to dampen the spirits of the fans who are hoping that the fight may finally happen.

Espinoza, however, told New York Daily News, that Mayweather will definitely fight on May 2 because they have already placed a backup plan for him.

"He's definitely fighting on May 2. His first choice by far is Manny Pacquiao. If it becomes clear that that fight is not achievable, then he would move on to either Amir Khan or Miguel Cotto. He's made it clear to us that Pacquiao is still his No. 1 priority, and that's where all our energy is focused," the Showtime executive explained.

While Pacquiao's camp is rushing to finalize the megafight, Espinoza said there is still plenty of time to announce the match, that is, if both camps seal the deal.

"There is urgency to get this done and get it going, but we're not in a panic mode in terms of the calendar right now," he said.

He also noted that he is confident that the remaining unresolved issues will be worked out prior to the supposed schedule of the fight.

"We have work to do to bridge the gap on important issues, but the most important thing is that Floyd genuinely wants it and wants it badly, and from everything I've heard and seen, Manny wants the fight as well," Espinoza added.